Medtronic, Inc.

Medtronic, Inc.

Sector: Electromedical And Electrotherapeutic Apparatus Region: MN, United States

: | Mexican Stock Exchange: MDT | New York Stock Exchange: MDT

Similar to: Fresenius SE & Co. KGaA, Kinetic Concepts, Inc., Varian Medical Systems, Inc.

Medtronic, Inc. is a medical technology company, which provides innovative products and therapies for use by medical professionals to meet the health care needs of their patients. Its primary products include those for cardiac rhythm disorders, cardiovascular disease, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, diabetes, and ear, nose, and throat conditions. The company operates through two business segments: Cardiac & Vascular Group and Restorative Therapies Group. The Cardiac and Vascular Group segment operates through four businesses: Cardiac Rhythm Disease Management, Coronary, Endovascular and Structural Heart. The Cardiac Rhythm Disease Management business develops, manufactures, and markets products for the diagnosis, treatment, and management of heart rhythm disorders and heart failure, including implantable devices, leads and delivery systems, products for the treatment of atrial fibrillation, and information systems for the management of patients with cardiac rhythm disease management devices. The Coronary business comprises of therapies to treat coronary artery disease and hypertension. Its products contained within this business include coronary stents and related delivery systems, along with a broad line of balloon angioplasty catheters, guide catheters, guidewires, diagnostic catheters, and accessories. The Endovascular business comprises of a comprehensive line of products and therapies to treat abdominal and thoracic aortic aneurysms and peripheral vascular disease. Its products include endovascular stent graft systems, embolic protection systems, and stent systems for the treatment of narrowed iliac arteries. The Structural Heart business offers a comprehensive line of products and therapies to treat a variety of heart valve disorders. Its products are used for the repair and replacement of heart valves, perfusion systems, positioning and stabilization systems for beating heart revascularization surgery, and surgical ablation products. The Restorative Therapies Group segment operates through four businesses: Spinal, Neuromodulation, Diabetes and Surgical Technologies. The Spinal business develops, manufactures, and markets a comprehensive line of medical devices and implants used in the treatment of the spine and the musculoskeletal system. Its products and therapies treat a variety of conditions affecting the spine, including degenerative disc disease, spinal deformity, spinal tumors, fractures of the spine, and stenosis. The Neuromodulation business develops, manufactures, and markets medical devices for the treatment of chronic pain, movement disorders, psychological disorders, and urological and gastroenterological disorders. The Diabetes business develops, manufactures, and markets advanced, integrated diabetes management solutions that include insulin pump therapy, continuous glucose monitoring systems, and therapy management software. The Surgical Technologies business develops, manufactures, and markets products and therapies to treat diseases and conditions of the ear, nose, and throat and certain neurological disorders. In addition, the business develops, manufactures, and markets image-guided surgery and intra-operative imaging systems that facilitate surgical planning during precision cranial, spinal, sinus, and orthopedic surgeries. Medtronic was founded by Earl E. Bakken and Palmer J. Hermundslie on April 29, 1949 and is headquartered in Minneapolis, MN.

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Medtronic At A Glance

Medtronic is the global leader in medical technology -- alleviating pain, restoring health, and extending life for millions of people around the world.

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Medtronic At A Glance

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Medtronic Navigation on Today in America w Terry Bradshaw

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Omar Ishrak, CEO, Medtronic


Omar Ishrak, Chairman and Chief Executive Officer
Mr. Omar S. Ishrak has been the Chief Executive Officer and Chairman of Medtronic, Inc. since June 13, 2011. Mr. Ishrak served as the Chief Executive Officer and President of GE Healthcare Systems at General Electric Co. from 2005 to May 11, 2011. Mr. Ishrak served as Senior Vice President of General Electric Co. since June 2010. He served as Chief Executive Officer and President of Clinical Systems at GE Healthcare Ltd. Mr. Ishrak served as the Head of Healthcare Systems Division of GE Healthcare Ltd. since January 2009. Mr. Ishrak served as Chief Executive Officer and President of Clinical Systems GE Healthcare of General Electric Co. since January 2005. Mr. Ishrak was responsible for GE's ultrasound, monitoring solutions, cardiology, bone densitometry, maternal-infant care and life support solutions businesses. He has been Vice President and GE Officer of General Electric Co. since 1999. Beginning in 1995, Mr. Ishrak's business and technology leadership was instrumental in positioning GE to become the world's leading provider of ultrasound technology and services. During his tenure, the ultrasound division has delivered a continuous stream of innovation, expanding into new clinical applications and broadening its distribution worldwide to achieve annual double-digit growth. Mr. Ishrak joined GE with more than 13 years of technology and business management experience. He served as Senior Vice President of Worldwide Marketing and Product Development of Elbit Ultrasound Group, and various product development and engineering positions at Philips Ultrasound. He serves as the Chairman of Intel-GE Care Innovations, LLC. He was a Member of the GE Corporate Executive Council. He is a Member of the Blood Center of Wisconsin. He is also on the Health Leadership Council of the Save the Children Foundation. Mr. Ishrak earned a Bachelor of Science and a PhD in Electrical Engineering from the University of London, King's College.
Gary Ellis, Senior Vice President and Chief Financial Officer
Gary Ellis was named Senior Vice President and Chief Financial Officer on May 1, 2005. In this role, he is responsible for the treasury, tax, controllership, internal audit, and investor relations functions at Medtronic. Gary began his career with Medtronic in 1989 as Assistant Corporate Controller. He has served the company in several financial roles including, Vice President of Finance for Medtronic Europe; Vice President and Corporate Controller responsible for the finance and accounting functions for the company; and as Vice President, Corporate Controller and Treasurer.
Prior to joining Medtronic, Gary was a Senior Audit Manager for Price Waterhouse where, in addition to several other responsibilities, he managed the Medtronic audit for nearly 10 years. He has worked with several large corporate organizations, as well as providing audit services to numerous non-profit organizations.
Gary received his bachelor’s of science degree in Accounting in 1978 from the University of South Dakota. He is very active in community activities and has contributed many years of service on the Board of Directors and as President of his local church and other non-profit organizations. He served as the Chairman of the American Heart Association Board in 2007-2008 and currently serves on the boards of the Science Museum of Minnesota, the Greater Twin Cities United Way, and the Toro Company. Gary also is a member of the Minnesota Society of CPAs.
Michael J. Coyle, Executive Vice President and Group President, Cardiac and Vascular Group
Michael J. Coyle was named Executive Vice President and Group President for the company’s Cardiac Rhythm Disease Management (CRDM), Coronary and Renal Denervation, Endovascular Therapies, and Structural Heart business units in December 2009. In this role, Mike oversees four Medtronic businesses, providing strategic direction, and ensuring cross-functional synergies including integrated growth plans and alignment. Prior to joining Medtronic, Mike most recently provided leadership consulting services to private equity, venture capital and medical device technology firms. From 2001 to 2007, he served as President of the CRM division at St. Jude Medical where he led the company’s global pacemaker, implantable cardioverter defibrillator, and cardiac resynchronization businesses. He also served St. Jude as President of the company’s Daig Catheter division. In addition, Mike has held numerous leadership positions at Eli Lilly & Company. He earned a bachelor’s degree from Case Western Reserve University and a master’s degree in business administration from the Wharton School of Business, University of Pennsylvania.

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